Daily Market Reports | 11:00 AM
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
29M A2M ARB BGL BPT (2) CEH EVN FBU FMG FPR GDG GNE GNP KAR LNW LYC NST (2) NWL (2) PDN PEN PNR PPS RRL RSG RXL SFR
FPR FLEETPARTNERS GROUP LIMITED
Vehicle Leasing & Salary Packaging - Overnight Price: $2.82
Canaccord Genuity rates ((FPR)) as Buy (1) -
A subdued start to FY26 has left FleetPartners Group searching for a catalyst, despite stable underlying earnings drivers, in Canaccord Genuity’s view.
New business written fell -13% in 1Q26 to $185m, although assets under management or finance (AUMOF) remained steady at $2.4bn, which the broker highlights as the key determinant of near term earnings stability.
Management guided to marginal new business written growth in FY26 alongside stable AUMOF, core income and end of lease income, supported by ongoing cost discipline and strong cash generation.
Buy rating and $3.60 target price are retained.
This report was published on January 22, 2026.
Target price is $3.60 Current Price is $2.82 Difference: $0.78
If FPR meets the Canaccord Genuity target it will return approximately 28% (excluding dividends, fees and charges).
Current consensus price target is $3.45, suggesting upside of 22.5%(ex-dividends)
The company's fiscal year ends in September.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 38.90 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 7.25.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 34.7, implying annual growth of 3.4%.
Current consensus DPS estimate is 24.8, implying a prospective dividend yield of 8.8%.
Current consensus EPS estimate suggests the PER is 8.1.
Forecast for FY27:
Current consensus EPS estimate is 33.7, implying annual growth of -2.9%.
Current consensus DPS estimate is 23.2, implying a prospective dividend yield of 8.2%.
Current consensus EPS estimate suggests the PER is 8.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GDG GENERATION DEVELOPMENT GROUP LIMITED
Wealth Management & Investments - Overnight Price: $5.65
Moelis rates ((GDG)) as Buy (1) -
Stronger than expected Investment bond flows offset softer managed account momentum at Generation Development Group, notes Moelis.
Investment bond net inflows of $330m beat expectations, driven by continued out-performance in bond returns, while managed account flows were softer due to mandate timing.
The broker notes Evidentia secured client wins representing around $3.4bn in FUA during the quarter, with conversion expected to support flows over time and a stronger 2H anticipated.
FY26 group EPS estimates are broadly unchanged, with stronger bond performance offsetting marginally lower managed account revenue assumptions. Buy rated with $8.46 target.
This report was published on January 22, 2026.
Target price is $8.46 Current Price is $5.65 Difference: $2.81
If GDG meets the Moelis target it will return approximately 50% (excluding dividends, fees and charges).
Current consensus price target is $7.52, suggesting upside of 33.2%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY26:
Moelis forecasts a full year FY26 dividend of 2.00 cents and EPS of 10.20 cents.
At the last closing share price the estimated dividend yield is 0.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 55.39.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.8, implying annual growth of -7.1%.
Current consensus DPS estimate is 2.5, implying a prospective dividend yield of 0.4%.
Current consensus EPS estimate suggests the PER is 52.3.
Forecast for FY27:
Moelis forecasts a full year FY27 dividend of 2.00 cents and EPS of 14.70 cents.
At the last closing share price the estimated dividend yield is 0.35%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 38.44.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 15.1, implying annual growth of 39.8%.
Current consensus DPS estimate is 3.7, implying a prospective dividend yield of 0.7%.
Current consensus EPS estimate suggests the PER is 37.4.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
GNE GENESIS ENERGY LIMITED
Infrastructure & Utilities - Overnight Price: $2.10
Jarden rates ((GNE)) as Buy (1) -
Genesis Energy delivered 2Q26 earmings (EBITDA) of around NZ$119m, down on y/y, reflecting materially lower wholesale prices and deliberately reduced thermal dispatch under improved hydrological conditions.
For 1H26, implied EBITDA rose to around NZ$296m from NZ$217m, prompting an upgrade to FY26 normalised EBITDAF guidance to NZ$490–520m from NZ$455–485m, with all other guidance unchanged.
Jarden attributes the upgrade to improved margin quality from portfolio optimisation, partially offset by higher operating costs linked to the Gen35 programme.
Hydro generation increased 17% in 1H26 while thermal output fell -45% as lake storage improved to 122% of average by December. Jarden retains a Buy rating and NZ$3.01 target.
This report was published on January 22, 2026.
Current Price is $2.10. Target price not assessed.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
Market Sentiment: -0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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